Which approach predicts a person's earning potential and determines how much of that would be devoted to dependents?

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Which approach predicts a person's earning potential and determines how much of that would be devoted to dependents?

a) Future value approach
b) Earnings approach
c) Needs approach
d) Human life value approach

Answer: d) Human life value approach

WA Life Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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